In addition to auto-investing into your entire portfolio, an M1 user has the flexibility to make individual buy and sell orders on any slice in their portfolio. For all orders there are two inputs: slice and dollar amount. All orders will take place during the next trade window.
When you place a buy order, M1 will purchase the specified dollar amount of the slice you selected. To place a buy order, you must have available cash in your account; M1 will not withdraw money from your bank account to complete a trade. Available cash includes cash, sell orders, and incoming deposits. If the available cash for a user is less than his or her buy orders, then M1 will prorate the requested buys.
Example: Jenny places a $100 buy order for Stock A. Jenny (if she has the funds available) will purchase $100 of Stock A during the next trade window.
When you place a sell order, M1 will sell the specified dollar amount of the slice you selected.
Money from a sell order can be used to place a buy order; it can also can be held as cash, or can be re-invested in your portfolio depending on your Cash Balance Control settings.
Example: Jenny places a $100 sell order for Stock B. Jenny (if the slice has enough value) will sell $100 of Stock B during the next trade window.
Can I rebalance my portfolio and make buy/sell orders at the same time?
No, a user cannot make individual buy/sell orders and rebalance requests during the same trade window.